The healthcare company reported $9 million in losses attributable to shareholders, down from the $24 million in net income during Q2 but still an improvement compared to the $366 million net loss in Q3 2017.

Tenet's cash and cash equivalents reached $500 million, well above the $403 million Tenet reported at the end of Q2. Additionally, Tenet's adjusted EBITDA grew from $507 million in Q3 2017 to $577 million in Q3.

C-SUITE PERSPECTIVE:

"We had a solid quarter of results at both USPI and Conifer. Our hospitals did not meet our expectations and we are focusing on specific areas to address those gaps," Ronald Rittenmeyer, CEO of Tenet, said in a statement. "Strengthening enterprise operations remains our primary focus – and we will continue moving with urgency to implement targeted growth initiatives, achieve operational efficiencies, make further enhancements to our facility portfolio and instill culture changes to drive accountability."